Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1887-06-21
GREAT MISTAKES or BUSINESS
MY


Amos LAvrvnce. of Boston, who kept a
he rccord % The successes ard failures
OF those be knew. fouui that ninety I've
oct of every hundred persons engaged 10
trade utterly failed. Ani were no more
heard OF hy he great pablo. Oaly one In
tweuty succeeded. The successful men
were knOwn svcrywhers they were lsui'
81 10 the public papers Aui pointed AZ ~
The aimiring crowds. They were ~
much more conspicuous on evsry hand
than the poor. obscure, forgotten failures,
that % superficial persons the idea became
prevalent that getting rich by trade ani
speculation was pretty certain opef.
ail0u. Aud others A. coussqssnce rushed
Into II by hundreds. A yogng man oi my
acqaalntarce said n me, Il An golng inio
business on hlg scsle-I am Determined
either 20 make = fortune. or else go -
smAshf' The criminal wrong he woali
DO 81 thus recklcssly risking TIE property
of Others whose means be borrowed, did
not seem % iroabie him. The fact wAs,
he wAs wrongly educated bis fAihCr was
q reckless speculAtors bad bank accolni
90 afy or = hanircd thousand of morc,
and Nten The crash came, be aud bis en-
dorscrs and tie village bank, waich be- bad
succeeded In hcguiAng. All went unitr
together. Men who fail are tempted -
resort % deception for time In ORDER %
keep OF their feet. and this l. one reason
that 80 many poor fellows n1i lt hard
Anerwafis % wash ca the stain they have
received
Auotscr error walch many fall iuio. l.
the ambition 90 being a. ''iac head of ihc
buslness-uoi occupylug = subordinate
position. I knew \ man. rather youug In
wears. Nho wa. bead clerk In large clty
estAblshmeui some forty years ago, To-
crlvtd a salary 90 si.;o0 (Nhlch Was
tquAl 90 three 90 four thousand now, he
49, living ln safe AM moderate way.
Bu, BE- dii not wish % bc 'clefk. re
a.p.rsd - The name %, merchant, ani
lu p.ftr.r.hip with two Others of bis go,
90. ned msrnldceutly With borrowed caqi.
IA 10 le.. than two years the arm failed
for $50 90. And bis long liic slncc theu
Las hssu much more obscure thAn that oi
heal clerk.
Another mistake. made ly many men
Who iutsud % be strictly honest. Il ia Try
iug % carry large bank account Taey
90 rot seem % bc aware that ln addition
20 meeting AL the expenses of tae bas!'
usss. they vii have heavy sun - PAY
annually In tae SHAPE of Interest, which,
uke hungry animal. will bc pcrpeigAly
tevoufiug their strength. A worthy
friend % mlne tried this experiment lie
was very indus,fi0us-uUieriOo Bis
/ business wsli-hlrtd about sixty hands Al
The bu.y season % The year, AMI having
/ good credit flf honesty. obtained hAlk
| .ccourt f1r $4,000 Year after year
year alter year, TIE $500 had % bc paid,
% say nothing of the oig principal, And
The pay % his many hands and other Il.
psrscs. lie hoped Tor turn IN The TIDE
which WAS gradually loading him. ana
which inAliy swept away al that he aad.
Another acquaintance, ~ TIE head of q
Toe establishment In appeAfanee, And Nv
ing lna Gee house. hal much larger teti,
bAnk snd otherwise, OF over si,vlo.vop.
Bat g. .O0O year, which could be scarce
IL met 10 very fair sAillug. quickly ofoagh'
about the great crash when business mat
tsrs became cloudy.
This l. AL wrong. have known some
Others Who became wealthy aud suostAn'
TIA men. who worked on sdirsrent basis,
aud avoided vast debts. | hai once TIE
privilege % c0uvefsing Que evening with
three ofthese men who lived 10 an eastern
city. one of then, TIE president of =
bank. AMI whO hAi been f)ur merehsnt'
said that In the commencement OF bis basi.
ness. the remark OF tAiillng acquaintance
was reported q hin. that mir. Z. wiz
never be worth more than twelve barrels
of nour." lie replied. "verY well obe
thing = certain. they will be paid Tor.
/ The second gentleman Of TIE three, SAID
that be AMI bis partners had always AL
herrd % The rule never % borrow more
money than forced sale 90 their goods 10
store would more than pay. They had
plenty OF other means. The tnlrd sAi1 he
nsver borrowed = dollar; Bat the necessa'
~ funds required for bis business were
aiways obtained AZ The bank BY drawing
on bis own deposits. These three men All
began In = small way, and worked safely
/ upwards. and each Que was then worth
hundreds oi thousands.
Farmers % small means, who think OF
running largely into debt fOr new purehAs'
-. mAy perhsps obtain a useful suggestion
| from the above remarks.